Lawmakers announce road repair funding plan

Share via e-mail

House Speaker Gordon Fox and state Treasurer Gina Raimondo have detailed a plan to help Rhode Island municipalities borrow money for infrastructure projects that is part of a broader effort to boost the state economy. The legislation would create a new funding source to be administered by the state’s Clean Water Finance Authority. The idea is for municipalities to borrow money from the fund at low interest rates for road and bridge projects that would, in turn, create jobs. Fox said the plan calls for an investment by the state of between $60 million and $70 million over 20 years.